Bimonthly dividends would eliminate a lot of the problem here. This is because on every QUARTERLY dividend date, everyone rotates out of STRC and rotates into STRD, STRF and STRK. Same exact thing happened in December.

Meanwhile STRD, STRF and STRK are all up. Why is this? Because all 3 of them were paying their QUARTERLY dividend on the same date, making STRC are stupid thing to hold onto when you can just rotate to these 3 instead. After quarterly dividends pay out, capital rotates back.

What part doesn't make sense? Except for $STRK, other Prefs $STRC $STRF $STRD and $STRE do not show up here in ADSO. Prefs increase Bitcoin per Share (BPS) because, the acquire Bitcoin without increasing the share count, "amplification".

$IBIT has recorded -$412.4 million in net outflows YTD. Meanwhile, Strategy has increased its Bitcoin holdings by 172,756 BTC YTD. Strategy is also outperforming IBIT YTD. There is no second best BTC stock proxy. 😎🚀 $MSTR $STRK $STRF $STRD $STRC $STRE $BTC

The primary reason I think $STRC isn’t hitting par is because buyers are rotating into the other prefs instead. The yield on STRD on its 6/15 ex dividend date is 3x as attractive as STRC’s monthly dividend $STRD $STRF

Everyone talking about Saylor blowing up is a retard. Here's why. Saylor will not get margin called. He owns the BTC outright. He's not a retail trader trading on leverage. Most of the debt is unsecured convertible notes, meaning lenders cannot seize the bitcoin if the price drops. The real picture is slower, uglier, and more boring than the doomers want it to be. Saylor is facing a classic three-body problem. - He has to keep the MSTR equity bid (to continue ATMing shares) - He needs to keep preferred holders paid (STRC, STRK, STRF — all of them) - And not sell any BTC Well, he's already failed. Strategy can survive a crash. But not if it goes on for too long. When the stock falls, his ability to raise debt or buy bitcoin at a favorable price disappears. If he's forced to issue shares at a low price, it will kill the common stock. It's not a doom loop like the bears say. Just a slow suffocation, and the biggest losers are the MSTR holders. But if Saylor does start getting pressured. It will be a generational entry.

The major issue is that buying STRC makes no sense on this ex-dividend date specifically. Why? Because you can just do literally the same thing on STRD, STRF or STRK and capture the QUARTERLY dividend which has the same exact ex-dividend date.

STRC pays 0.96 monthly dividend today (and its down) STRD pays 2.50 quarterly dividend today (and its up) STRF pays 2.00 quarterly dividend today (and its up) STRK pays 2.50 quarterly dividend today (and its up) Seeing a pattern?

Huh? That has zero bearing on the logic or math. But if you must know, 5% STRF, 5% mstr call options for 2028, and 90% bitcoin

start diluting share count of STRD STRK STRF no one cares about these and buy back shares of common so share price can actually go up fucking ridiculous already

I really appreciated @jackmallers question. I think it was a thoughtful question and very timely. I’m a massive investor in $XXI $MSTR $STRF so the details matter. Ps Jack, I would love to hear you explain your thoughts on $XXI MNAV, on next mailbag, 1.3 or closer to .88? TY

People are scalping the quarterly dividends of STRD, STRF, and STRK. Back to par in 17 days regarding STRC. You’re welcome. 😇

STRK, STRD, STRF all paying $2 same ex date. Double STRC div

That would only explain part of it. The combined volume on STRK/STRF/STRD was ~$30m vs STRC’s at $239m

STRK and STRF record date is June 15th. People would rather collect that quarterly dividend from Strategy since its higher so theyre selling $STRC

2? STRK STRD STRF STRC

Digital Credit volumes over the last month $STRC $SATA $STRF $STRK $STRD

STRK and STRF record date is June 15th. People would rather collect that quarterly dividend.

Traders would rather collect a quarterly (larger) dividend from STRF, STRK, or STRD than a monthly (smaller) dividend from STRC.

Thank you @saylor for the STRF dividend. $2.50 a share record date 6/15. STRF is the safest preferred and is currently trading at a discount. I was lucky enough to buy more the other day. Stay humble and stack SATs!